It was a big day yesterday as we presented a BIG Check with our partners!!
On Dec. 30, Spencer’s Retail Kickstarter Fund awarded the Iowa Project Brewing Company $50,000. The money is divided into two parts: a $25,000 zero-interest loan and $25,000 as a forgivable loan.
“In looking at the application and looking at some of the goals we as a city have set from an economic development perspective, they were right at the top of our list,” Spencer City Manager Amanda Mack said. “We’re excited to have them here.”
The Iowa Project is expected to be completed and opening for business sometime in May 2020. The layout will incorporate an “open concept” with tables and seats at the front of the building, a bar toward the back and, behind it, the brewery itself, which will be open for visitors to see.
“We still have quite a lot to do,” co-founder of The Iowa Project Brewing Company Nicholas Applegate said. “We’ve got HVAC, electrical, we’re remodeling the front of the venue so there’s a lot of demolition left to be done.”
The Retail Kickstarter Fund was started in April 2019 as a collaboration between the Spencer Chamber of Commerce, Spencer Main Street, Northwest Bank, Farmers Trust and Savings Bank, the City of Spencer and Community State Bank to generate interest for out-of-town businesses to settle in Spencer and help stimulate the local economy.
“When we created the Retail Kickstarter, the group decided that our max award would be $50,000 and we really wanted that award to be for what we call a ‘wow project,'” Mack said. “(It’s) something we don’t have in the community that we want.”
The Iowa Project will be located on 316 Grand Ave. between Carlson Property Holdings & Management and Sisters Mainstreet Cafe. The company is currently comprised of its two founding members, Applegate and Lucas Kline.